Crisis Shuts Stores at Guarulhos Airport

08/20/2015 - 09h41

The slowdown in passenger traffic is already affecting sales at Guarulhos airport. Despite the opening of an Apple store on Saturday, August 15, there are still shops going out of business.

Two branches of the restaurant Arabia have closed in the new Terminal 3, plus an American brand of popcorn Garrett Popcorn and a Risotto Mix franchise store.

The closures have taken place in a context of general slowdown in airports, where even the operation of a giant in travel retail, such as Dufry, has suggested in financial reports that the exchange rates continue to weaken the Brazilian purchasing power.

IMC (owner of brands such as Vienna and Brunella) has hinted that the maturation period of operations in concession airports across the country like Guarulhos, "is taking longer than expected due to the deterioration of the economic environment."

The rent charged in the new terminal 3 is a recurring complaint among tenants. BNDES (the Brazilian National Development Bank) announced that in addition to tariff revenues, revenues from the commercial exploitation of the spaces were given as collateral to loans for expansion works.

The whole airport has 220 stores, mostly bound to large chains.

Marcos Hirai, a partner at BG&H Real Estate, specialist in outlets says that such frustration is typical of new ventures. "The first wave of tenants is usually based on a blueprint study, and the estimate may not materialize."

The crisis has spread to terminals 1 and 2, which have lost part of its international passengers share to terminal 3.

Marcus Santarém, president of Guarulhos International Airport (GRU Airport), said the impacts of the crisis affect the entire airport, which has grown by only 0.16% in passenger traffic in the first half of 2015 compared to the same period in 2014.

ANCAB (National Association of Brazilian Airports), which represents the stores, instructed its members to demand support from GRU Airport. Trading in the stores often involves payment of a percentage of revenues –if the amount agreed in the contract is not reached, payment of a minimum guarantee is made.

Translated by CRISTIANE COSTA LIMA

Read the article in the original language

	Moacyr Lopes Junior/Folhapress
	The crisis has spread to terminals 1 and 2, which have lost part of its international passengers share to terminal 3